Stock Analysis on Net
Stock Analysis on Net

Schlumberger Ltd. (NYSE:SLB)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.

Solvency Ratios (Summary)

Schlumberger Ltd., solvency ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Debt Ratios
Debt to equity 0.60 0.63 0.59 0.59 0.68 0.72 0.71 0.69 0.78 0.85 0.92 0.95 1.15 1.23 1.32 1.40 1.49 1.44 1.07 0.64 0.70 0.48 0.46
Debt to capital 0.38 0.38 0.37 0.37 0.40 0.42 0.42 0.41 0.44 0.46 0.48 0.49 0.54 0.55 0.57 0.58 0.60 0.59 0.52 0.39 0.41 0.32 0.31
Debt to assets 0.26 0.27 0.25 0.25 0.29 0.30 0.29 0.28 0.30 0.32 0.34 0.34 0.38 0.38 0.39 0.40 0.40 0.39 0.34 0.27 0.29 0.24 0.24
Financial leverage 2.31 2.34 2.31 2.38 2.36 2.41 2.43 2.44 2.56 2.62 2.73 2.77 3.07 3.21 3.35 3.52 3.69 3.71 3.12 2.37 2.43 1.97 1.95
Coverage Ratios
Interest coverage 12.19 12.12 11.98 11.50 11.52 11.13 10.90 9.72 8.27 7.30 5.99 5.40 4.82 3.43 -4.01 -19.07 -19.07 -38.65 -30.80 -16.11 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Schlumberger Ltd. debt to equity ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Schlumberger Ltd. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Schlumberger Ltd. debt to assets ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Schlumberger Ltd. financial leverage ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Schlumberger Ltd. interest coverage ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Debt to Equity

Schlumberger Ltd., debt to equity calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings and current portion of long-term debt 1,059 1,033 1,430 1,123 1,998 1,993 2,140 1,632 899 901 923 909 1,025 36 749 850 1,292 603 1,233 524 340 98 99
Long-term debt, excluding current portion 11,864 12,156 10,740 10,842 11,147 11,342 10,698 10,594 12,452 12,946 13,163 13,286 14,370 15,687 15,834 16,036 16,471 16,763 15,409 14,770 16,333 16,978 16,449
Total debt 12,923 13,189 12,170 11,965 13,145 13,335 12,838 12,226 13,351 13,847 14,086 14,195 15,395 15,723 16,583 16,886 17,763 17,366 16,642 15,294 16,673 17,076 16,548
 
Total SLB stockholders’ equity 21,511 21,071 20,736 20,189 19,386 18,608 18,068 17,685 17,199 16,325 15,347 15,004 13,362 12,762 12,543 12,071 11,941 12,040 15,561 23,760 23,913 35,852 36,103
Solvency Ratio
Debt to equity1 0.60 0.63 0.59 0.59 0.68 0.72 0.71 0.69 0.78 0.85 0.92 0.95 1.15 1.23 1.32 1.40 1.49 1.44 1.07 0.64 0.70 0.48 0.46

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to equity = Total debt ÷ Total SLB stockholders’ equity
= 12,923 ÷ 21,511 = 0.60

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Schlumberger Ltd. debt to equity ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Debt to Capital

Schlumberger Ltd., debt to capital calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings and current portion of long-term debt 1,059 1,033 1,430 1,123 1,998 1,993 2,140 1,632 899 901 923 909 1,025 36 749 850 1,292 603 1,233 524 340 98 99
Long-term debt, excluding current portion 11,864 12,156 10,740 10,842 11,147 11,342 10,698 10,594 12,452 12,946 13,163 13,286 14,370 15,687 15,834 16,036 16,471 16,763 15,409 14,770 16,333 16,978 16,449
Total debt 12,923 13,189 12,170 11,965 13,145 13,335 12,838 12,226 13,351 13,847 14,086 14,195 15,395 15,723 16,583 16,886 17,763 17,366 16,642 15,294 16,673 17,076 16,548
Total SLB stockholders’ equity 21,511 21,071 20,736 20,189 19,386 18,608 18,068 17,685 17,199 16,325 15,347 15,004 13,362 12,762 12,543 12,071 11,941 12,040 15,561 23,760 23,913 35,852 36,103
Total capital 34,434 34,260 32,906 32,154 32,531 31,943 30,906 29,911 30,550 30,172 29,433 29,199 28,757 28,485 29,126 28,957 29,704 29,406 32,203 39,054 40,586 52,928 52,651
Solvency Ratio
Debt to capital1 0.38 0.38 0.37 0.37 0.40 0.42 0.42 0.41 0.44 0.46 0.48 0.49 0.54 0.55 0.57 0.58 0.60 0.59 0.52 0.39 0.41 0.32 0.31

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 12,923 ÷ 34,434 = 0.38

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Schlumberger Ltd. debt to capital ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Debt to Assets

Schlumberger Ltd., debt to assets calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings and current portion of long-term debt 1,059 1,033 1,430 1,123 1,998 1,993 2,140 1,632 899 901 923 909 1,025 36 749 850 1,292 603 1,233 524 340 98 99
Long-term debt, excluding current portion 11,864 12,156 10,740 10,842 11,147 11,342 10,698 10,594 12,452 12,946 13,163 13,286 14,370 15,687 15,834 16,036 16,471 16,763 15,409 14,770 16,333 16,978 16,449
Total debt 12,923 13,189 12,170 11,965 13,145 13,335 12,838 12,226 13,351 13,847 14,086 14,195 15,395 15,723 16,583 16,886 17,763 17,366 16,642 15,294 16,673 17,076 16,548
 
Total assets 49,775 49,373 47,856 47,957 45,813 44,826 43,855 43,135 44,093 42,827 41,967 41,511 41,038 40,908 42,036 42,434 44,066 44,667 48,594 56,312 57,990 70,591 70,321
Solvency Ratio
Debt to assets1 0.26 0.27 0.25 0.25 0.29 0.30 0.29 0.28 0.30 0.32 0.34 0.34 0.38 0.38 0.39 0.40 0.40 0.39 0.34 0.27 0.29 0.24 0.24

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 12,923 ÷ 49,775 = 0.26

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Schlumberger Ltd. debt to assets ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Financial Leverage

Schlumberger Ltd., financial leverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Total assets 49,775 49,373 47,856 47,957 45,813 44,826 43,855 43,135 44,093 42,827 41,967 41,511 41,038 40,908 42,036 42,434 44,066 44,667 48,594 56,312 57,990 70,591 70,321
Total SLB stockholders’ equity 21,511 21,071 20,736 20,189 19,386 18,608 18,068 17,685 17,199 16,325 15,347 15,004 13,362 12,762 12,543 12,071 11,941 12,040 15,561 23,760 23,913 35,852 36,103
Solvency Ratio
Financial leverage1 2.31 2.34 2.31 2.38 2.36 2.41 2.43 2.44 2.56 2.62 2.73 2.77 3.07 3.21 3.35 3.52 3.69 3.71 3.12 2.37 2.43 1.97 1.95

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Financial leverage = Total assets ÷ Total SLB stockholders’ equity
= 49,775 ÷ 21,511 = 2.31

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Schlumberger Ltd. financial leverage ratio increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024 not reaching Q1 2024 level.

Interest Coverage

Schlumberger Ltd., interest coverage calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to SLB 1,186 1,112 1,068 1,113 1,123 1,033 934 1,065 907 959 510 601 550 431 299 374 (82) (3,434) (7,376) 333 (11,383) 492 421
Add: Net income attributable to noncontrolling interest 32 33 30 35 13 14 10 18 12 11 10 10 12 12 13 9 9 6 8 9 10 2 9
Add: Income tax expense 289 276 259 285 259 246 217 264 215 182 118 144 129 99 74 89 19 (199) (721) 109 (598) 99 79
Add: Interest expense 136 132 113 130 129 127 117 121 122 124 123 137 130 136 136 145 138 144 136 146 160 156 147
Earnings before interest and tax (EBIT) 1,643 1,553 1,470 1,563 1,524 1,420 1,278 1,468 1,256 1,276 761 892 821 678 522 617 84 (3,483) (7,953) 597 (11,811) 749 656
Solvency Ratio
Interest coverage1 12.19 12.12 11.98 11.50 11.52 11.13 10.90 9.72 8.27 7.30 5.99 5.40 4.82 3.43 -4.01 -19.07 -19.07 -38.65 -30.80 -16.11 — — —

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Interest coverage = (EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024 + EBITQ4 2023) ÷ (Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024 + Interest expenseQ4 2023)
= (1,643 + 1,553 + 1,470 + 1,563) ÷ (136 + 132 + 113 + 130) = 12.19

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Schlumberger Ltd. interest coverage ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.